The GST collection has increased by 28 per cent to 1.43 lakh crore rupees in August this year. It was over 1.12 lakh crore rupees in the same month last year. In a statement, Finance Ministry said, out of the total collection in August this year, CGST is over 24 thousand crore rupees, SGST is around 31 thousand crore, IGST is over 77 thousand crore and cess is over ten thousand crore rupees.
During August, revenue from import of goods was 57 percent higher and the revenue from domestic transaction including import of services was 19 percent higher than the revenues from these sources during the same month last year.
For six months in a row now, the monthly GST revenues have been more than the 1.4 lakh crore rupees mark. This is a clear impact of various measures taken by the GST Council in the past to ensure better compliance. Better reporting coupled with economic recovery has been having positive impact on the GST revenues on a consistent basis.
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